Lucky Cement, partners explore PIA acquisition

July 09, 2025 (MLN): Lucky Cement Limited (PSX: LUCK), in collaboration with Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited, has formed a consortium to explore the acquisition of a majority stake in Pakistan International Airlines Corporation Limited (PIACL).

The consortium submitted an Expression of Interest and Statement of Qualification to acquire between 51% and 100% equity, along with management control of PIACL, as part of the government’s privatization process.

The Privatisation Commission has pre-qualified and shortlisted the consortium, along with other interested parties, to conduct financial, technical, and legal due diligence on the national carrier.

As per privatization laws, the equity stake will eventually be offered through a competitive bidding process, the company's filing on PSX revealed today. 

Lucky Cement clarified that neither the company nor the consortium has entered into any binding agreement for the acquisition.

Any such commitment would depend on the satisfactory completion of due diligence, necessary corporate and regulatory approvals, and confirmation of the transaction’s commercial viability.

Currently, the consortium’s intention is limited to conducting comprehensive due diligence and evaluating the feasibility of the proposed acquisition.

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